Cenovus Energy (TSE:CVE) Price Target Raised to C$32.00 at Royal Bank Of Canada

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by Royal Bank Of Canada from C$30.00 to C$32.00 in a research note issued on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price objective suggests a potential upside of 25.69% from the company’s current price.

A number of other research analysts have also weighed in on CVE. Scotiabank lifted their price target on shares of Cenovus Energy from C$27.00 to C$29.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Desjardins boosted their price objective on shares of Cenovus Energy from C$27.50 to C$29.00 in a research report on Monday, August 25th. National Bank Financial raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. ATB Capital lifted their price target on Cenovus Energy from C$25.00 to C$28.00 and gave the company an “outperform” rating in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Cenovus Energy from C$32.00 to C$29.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Cenovus Energy has an average rating of “Buy” and a consensus target price of C$28.64.

Cenovus Energy Trading Up 0.2%

TSE:CVE traded up C$0.06 during trading hours on Monday, hitting C$25.46. 3,571,673 shares of the stock were exchanged, compared to its average volume of 8,132,562. The company has a market capitalization of C$48.11 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.09 and a beta of 0.41. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The company’s 50 day moving average is C$23.99 and its two-hundred day moving average is C$21.24. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$25.97.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C$0.72 earnings per share (EPS) for the quarter. The firm had revenue of C$13.20 billion for the quarter. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.67%. On average, sell-side analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.